James Cash Penney, also known as J.C. Penney, was an American businessman and entrepreneur who founded the J.C. Penney department store chain. He was born on September 16, 1875 in Hamilton, Missouri, and grew up on a farm in the Missouri countryside.
In 1898, Penney started his career as a retail clerk at a dry goods store in Hamilton, Missouri. He quickly worked his way up through the ranks, and in 1902, he was offered the opportunity to become a partner in the store. Penney accepted the offer and the store was renamed the Golden Rule Store.
In 1906, Penney opened his first standalone store in Kemmerer, Wyoming, and the J.C. Penney Company was born. The store was a success, and Penney soon opened additional stores in other small towns in Wyoming and Montana.
By 1913, the J.C. Penney Company had grown to include 34 stores, and Penney was able to take the company public. The company continued to expand rapidly, and by the 1920s, it had more than 1,000 stores across the United States.
During the Great Depression, Penney faced financial challenges and had to close several stores. However, he was able to turn the company around and by the 1940s, the J.C. Penney Company was once again thriving.
In the 1950s and 1960s, the company continued to grow and expand, and it opened its first international store in Mexico in 1961. In the 1970s and 1980s, the company faced increased competition from other department store chains, but it was able to adapt and remain successful.
James Cash Penney died on February 12, 1971, but his legacy lives on through the J.C. Penney Company, which is still a major player in the retail industry today.